Post
Topic
Board Trading Discussion
Re: Putting your money where Pirate's mouth is.
by
hgmichna
on 10/07/2012, 07:04:11 UTC
… because of one or many of the following assumptions/premises …

  • No business can earn 7%+ a week over the course of a long term.

Have I missed something?

Sure you have missed something. The above point is not an assumption, but a trivial truth (except for the mathematically challenged) in a non-inflating currency like bitcoin.

This discussion needs people with some minimal mathematical ability. It would be better for the few others to shut up and stop advertising their stupidity.

Here is a little mathematical exercise for you. At 7% per week, how long does it take for one bitcoin to collect a compound interest of 10 million bitcoins? The first to answer this question correctly gets BTC0.1 from me (raising the question how long it would take for that tiny amount). Smiley

I'll simplify the question to make it easier for you, imsaguy, so you have at least a 50-50 chance of getting it right. Does it take more or less than five years?